Senate Hearing : Tax Credits Are Available For State Exchanges Only

Senator Baucus explains how The Affordable Care Act sets conditions where Tax Credits are available for State Exchanges Only

http://www.c-span.org/video/?c4504852/senate-hearing-tax-credits-available-state-exchanges

Here, the plain language of the ACA is straightforward: Section 1401 of the ACA, codified at Section 36B of the Internal Revenue Code, provides tax credit subsidies to individuals who buy insurance on exchanges “established by the State under section 1311″ of the ACA. Section 1304(d) clearly sets forth the definition of “State,” and it’s what you would expect: “the term ‘State’ means each of the 50 States and the District of Columbia.” A separate section of the ACA, section 1321, allows the federal government to “establish and operate such Exchanges within the State” if the State does not do so, and the statute nowhere provides a similar subsidy to buyers on the state exchanges or states that the federal exchange should be treated as a state exchange for purposes of the subsidies. This is not at all ambiguous.